Wall Street Zen Upgrades Newmont (NYSE:NEM) to Strong-Buy

Newmont (NYSE:NEM) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other research firms also recently weighed in on NEM. Scotiabank decreased their price target on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. BNP Paribas Exane raised their target price on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Jefferies Financial Group boosted their target price on shares of Newmont from $162.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. National Bank Financial upped their price target on shares of Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Finally, BMO Capital Markets increased their price target on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.51.

Newmont Trading Down 0.1%

NYSE NEM opened at $108.93 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $116.29 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.52 and a beta of 0.43. Newmont has a 52-week low of $48.61 and a 52-week high of $134.88. The firm has a 50-day moving average price of $111.96 and a 200 day moving average price of $107.24.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. Equities research analysts expect that Newmont will post 9.72 EPS for the current year.

Insider Transactions at Newmont

In other news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David James Fry sold 18,394 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 43,068 shares of company stock worth $4,769,475. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

Large investors have recently modified their holdings of the business. GoalVest Advisory LLC acquired a new position in shares of Newmont during the 4th quarter worth approximately $25,000. Pinnacle Bancorp Inc. acquired a new stake in Newmont during the 1st quarter valued at $25,000. Cedar Mountain Advisors LLC purchased a new position in Newmont during the first quarter worth $25,000. Physician Wealth Advisors Inc. increased its position in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after buying an additional 236 shares in the last quarter. Finally, Swiss RE Ltd. acquired a new position in shares of Newmont in the fourth quarter worth $26,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.